Darden Restaurants (DRI) PT Raised to $95 at Piper Sandler on Momentum into August

August 13, 2020 1:33 PM EDT
Get Alerts DRI Hot Sheet
Price: $139.11 --0%

Rating Summary:
    28 Buy, 16 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 5 | Down: 5 | New: 21
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Piper Sandler analyst Nicole Miller Regan raised the price target on Darden Restaurants (NYSE: DRI) to $95.00 (from $80.00) while maintaining an Overweight rating after checks suggest momentum into August.

"We are raising our same-store sales estimates for F1Q21 and raising our price target onDRI shares following our recent current checks for July and August," Regan commented. "Broadly, our checks highlight sequentially improving trends across the industry driven in part by operational execution and the continuation of dining room reopenings. Heightened traction within the off-premise channel is also a meaningful contributor of late. Specific to DRI, our checks highlighted sequentially improved sales trends at both Olive Garden and LongHornthrough August which informs our raised estimates for the F1Q21 period."

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Nicole Miller Regan